Morgan Stanley Alternative Investment Partners Raises $770 Million for
Global Secondary Opportunities Fund II
Business Wire
NEW YORK -- July 1, 2013
Morgan Stanley Investment Management (MSIM) today announced that Morgan
Stanley Alternative Investment Partners (AIP) raised $770 million in
commitments for the Morgan Stanley Global Secondary Opportunities Fund LP II
(GSOF II), a fund dedicated to acquiring interests in private equity funds in
the secondary market. The capital raised exceeded AIP's initial $600 million
target.
“This successful fundraising demonstrates the strength of our investment
approach and our talented team,” said John Wolak, Co-Head of AIP Private
Equity and Head of the AIP Private Equity Secondary team. “As an integrated
platform participating in both the primary and secondary markets, AIP is
well-positioned to employ its differentiated investment approach to take
advantage of secondary opportunities globally.”
The goal of GSOF II is to target off-market secondary opportunities across the
private equity spectrum, with an emphasis on small- and mid-cap buyouts and
special situations funds. GSOF II will seek diversification by managers,
strategies, regions, vintage years and portfolio companies. Investors include
existing AIP clients and new limited partners, such as endowments,
foundations, public and corporate pension plans, family offices, insurance
companies and high net worth individuals.
“We believe substantial opportunities continue to exist in areas of the market
where we focus and that our solutions-based approach to secondary investing
will remain attractive to both sellers and general partners through all phases
of the economic cycle. We recently completed several restructuring deals and
believe these types of deals are an ever-important and growing part of the
broader secondary market,” said Jon Costello, Senior Portfolio Manager for the
AIP Private Equity Secondary team. “We continue to be a buyer of secondaries
across our platform and will continue to focus on what we believe are less
efficient segments of the secondary market globally.”
GSOF II is the successor fund to AIP’s 2009 vintage secondary fund, Morgan
Stanley Global Secondary Opportunities Fund I LP, a $585 million fund that
completed its investment program in 2012.
“The AIP team of private equity professionals is one of the most experienced
and knowledgeable in the industry,” said Arthur Lev, Head of AIP. “We are
proud that our investment expertise, world-class service for clients and
reputation for excellence have led to this successful fundraising result.”
Morgan Stanley Alternative Investment Partners, part of Morgan Stanley
Investment Management, specializes in assisting investors achieve their goals
through the design, integration and management of alternative investment
programs. Our investment teams have unique expertise in fund investing,
secondaries and co-investing across private equity, hedge fund, real estate
and multi-asset class strategies. For further information about AIP, please
visit www.morganstanleyaip.com.
Morgan Stanley (NYSE: MS) is a leading global financial services firm
providing a wide range of investment banking, securities, investment
management and wealth management services. The Firm's employees serve clients
worldwide including corporations, governments, institutions and individuals
from more than 1,200 offices in 43 countries. For further information about
Morgan Stanley, please visit www.morganstanley.com.
Contact:
Morgan Stanley Investment Management
Media Relations
Matt Burkhard, 212-761-2444